Pensions

(asked on 1st July 2019) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, how many and what proportion of non-advised pension savers used a face-to-face or telephone appointment with the Pension Wise guidance service when accessing their pension benefits in each of the last four years since its introduction.


Answered by
Guy Opperman Portrait
Guy Opperman
Parliamentary Under-Secretary (Department for Transport)
This question was answered on 9th July 2019

Below are the number of people who have sought guidance from Pension Wise year on year. As well as face-to-face and telephone appointments, since 2017 Pension Wise have also provided digital appointments. Information on the proportions of non-advised pension savers accessing their pension is not available. Over 50s with Defined Contribution pensions are eligible for guidance appointments with Pension Wise. Some of these customers may go on to seek independent financial advice.

Face to Face

Telephone

Digital

Total

2015/16

40,989

19,950

NA

60,939

2016/17

48,413

17,761

NA

66,174

2017/18

63,185

24,289

34677

122,151

2018/19

90,448

39,667

37,611

167,726

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